Digital Colony And EQT Infrastructure’s Acquisition Of Zayo

Simpson Thacher represented affiliates of Digital Colony Partners and the EQT Infrastructure IV fund in connection with their merger agreement on the acquisition Zayo Group Holdings, Inc.

Under the terms of the agreement shareholders received $35 in cash per share of Zayo’s common stock in a transaction valued at $14.3 billion, including the assumption of $5.9 billion of Zayo’s net debt obligations. The transaction would result in Zayo transitioning from a public company to a private company. The closing of the deal is subject to customary conditions, including regulatory clearance and Zayo shareholder approvals. The transaction is expected to close in the first half of calendar 2020.

Zayo Group Holdings, Inc. (NYSE: ZAYO) provides mission-critical bandwidth to the world’s most impactful companies, fueling the innovations that are transforming our society.

Digital Colony is a global investment firm dedicated to strategic opportunities in digital infrastructure. The firm was launched in 2018 by Digital Bridge Holdings, LLC, a leading investor in and operator of companies enabling the next generation of mobile and internet connectivity, and Colony Capital, Inc. (NYSE: CLNY) a leading global real estate and investment management firm.

EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees.

Goldman Sachs and J.P. Morgan served as financial advisers to Zayo Group and Skadden Arps served as legal counsel. Morgan Stanley and Deutsche Bank acted as financial advisers to Digital Colony and EQT Infrastructure, and Simpson Thacher served as legal adviser.